180 Wealth Advisors LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 142.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,810 shares of the information technology services provider’s stock after purchasing an additional 10,469 shares during the quarter. 180 Wealth Advisors LLC’s holdings in ServiceNow were worth $1,862,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Covenant Asset Management LLC increased its stake in ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock valued at $3,196,000 after buying an additional 13,114 shares during the period. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter valued at $2,020,992,000. World Investment Advisors grew its holdings in shares of ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after acquiring an additional 38,583 shares in the last quarter. Cohen Klingenstein LLC increased its stake in shares of ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after acquiring an additional 36,274 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.
ServiceNow Stock Down 0.9%
Shares of NYSE NOW traded down $1.03 during mid-day trading on Friday, reaching $107.81. 11,058,890 shares of the company traded hands, compared to its average volume of 20,996,616. The company’s fifty day moving average is $102.49 and its two-hundred day moving average is $111.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $210.20. The stock has a market cap of $111.16 billion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.
Trending Headlines about ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
- Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
- Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
- Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
- Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?
Wall Street Analysts Forecast Growth
A number of brokerages have commented on NOW. Jefferies Financial Group restated a “buy” rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Stifel Nicolaus lowered their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Citizens Jmp restated a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Bank of America began coverage on shares of ServiceNow in a research note on Monday, May 18th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Robert W. Baird decreased their target price on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.47.
Get Our Latest Stock Analysis on NOW
Insider Activity
In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.
ServiceNow Profile
ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
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